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Get Answers to all your Questions
Read the following passage and answer the question.
Bailment and Pledge are two special contracts that are often confused. Every pledge is a bailment but every bailment is not a pledge. Bailment means the delivery of goods from one person to another for a special purpose. Whereas Pledge means delivery of goods as security for the payment of debt or performance of a promise. Therefore, Bailment & Pledge are two different contracts. The pledge is a special kind of bailment.
A bailment is a special contract defined under section 148 of the Indian Contract Act, 1872. It is derived from a French word i.e. “bailer” which means “to deliver”. The etymological meaning of bailment is “handing over” or “change of possession of goods”. By bailment, we mean delivery of goods from one person to another for a special purpose on the contract that they shall reimburse the goods on the fulfillment of the purpose or dispose of them as per the direction of the bailor. The person who delivers the goods is known as the bailor. And the person to whom the goods are given is known as Bailee. And the property bailed is known as Bailed Property.
The pledge is a kind of bailment. The pledge is also known as Pawn. It is defined under section 172 of the Indian Contract Act, 1892. By pledge, we mean bailment of goods as a security for the repayment of debt or loan advanced or performance of an obligation or promise. The person who pledges the goods as security is known as Pledger or Pawnor and the person in whose favour the goods are pledged is known as Pledgee or Pawnee.
Question :
Vikas bailed his parrot with Saddam for a week and returned after 10 days to get his parrot back.
Vikas will be liable to pay Saddam the expenses incurred for the safekeeping of the parrot for those 3 extra days.
They agreed for 7 days only so Vikas is liable for a week’s expenses only
Vikas is liable for breach of terms of the contract along with extra expenses of 3 days he must also pay adequate compensation
Vikas is not liable to pay anything because Saddam took care of the parrot gratuitously
Answers (1)
The bailor is duty-bound to collect his goods once the time for which the goods were bailed is expired. In case the bailor fails to collect the goods on the expiry of the bailment period, he has to pay for any losses incurred by the bailee.
